It is time private equity came out to meet its public

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Being the chief executive of the British Venture Capital Association these days must be about as frustrating as a job doing PR for the freemasons or advocacy for Opus Dei.

A lobbyist can only ever be as open and forthcoming as the community he represents and the private equity industry, which is represented by the BVCA, is chronically shy of publicity. For two decades, the association enjoyed a quiet life, representing the venture capitalists who make investments in start-up businesses. In the past two years, though, it has been plunged into a much rougher debate: it has become the mouthpiece